robbalvey Posted March 30, 2009 Posted March 30, 2009 Mark was on the CBS Early Show this morning discussing Six Flags’ strategy for weathering the tough economy and how the company plans to give park guests the best season ever. http://www.cbsnews.com/video/watch/?id=4902854n Thoughts?
Hercules Posted March 30, 2009 Posted March 30, 2009 I both like and dislike how confident Shapiro is. I like the fact that he is confident and not cocky that things are going for the better and will stay that way. I don't like that he is so confident that the company will not have to declare bankruptcy. And even if they don't declare either this year, or next year, I feel like it would just be pushing off the inevitable. Mark Shapiro just got intoduced to this company too late. It is a shame. And I wish I had a $30 ticket price Six Flags around me!
BeemerBoy Posted March 30, 2009 Posted March 30, 2009 At 3:50, did the reporter botch the name of the of the company in the humorous way that I thought I heard it...or was that just a video glitch on my end? Good report. I wish I was as optimistic as Mr. Shapiro though.
Manic Monte Posted March 30, 2009 Posted March 30, 2009 ^ Yeah I caught that flub. A very derogatory name to be calling SF investors! Other than that, a very good report. This time last year it was all about accidents in SF parks. This piece was much more balanced.
packfanlv Posted March 30, 2009 Posted March 30, 2009 The reported seemed to have fun filming this story while getting on some of the rides. As a Six Flags shareholder I have pretty much accepted the fact that the company's stock is worthless. Either way they restructure, it seems that the shareholders are going to lose out. Whether or not the company makes it or not, it seems that Shapiro has done as good a job as possible given the situation he inherited from the previous management. The company has come a long way in 3 years, but perhaps not long enough.
ginzo Posted March 30, 2009 Posted March 30, 2009 I both like and dislike how confident Shapiro is. I like the fact that he is confident and not cocky that things are going for the better and will stay that way. I don't like that he is so confident that the company will not have to declare bankruptcy. And even if they don't declare either this year, or next year, I feel like it would just be pushing off the inevitable. I think he did exactly what he had to do given the situation. He was talking to the press. If he had made the slightest acknowledgment of the possibility of bankruptcy, the headline would have been: CEO THINKS SIX FLAGS MIGHT DECLARE BANKRUPTCY
Mechanic Posted March 31, 2009 Posted March 31, 2009 I both like and dislike how confident Shapiro is. I like the fact that he is confident and not cocky that things are going for the better and will stay that way. I don't like that he is so confident that the company will not have to declare bankruptcy. And even if they don't declare either this year, or next year, I feel like it would just be pushing off the inevitable. I think he did exactly what he had to do given the situation. He was talking to the press. If he had made the slightest acknowledgment of the possibility of bankruptcy, the headline would have been: CEO THINKS SIX FLAGS MIGHT DECLARE BANKRUPTCY You hit the nail on the head. He has to come across as confident. The head management at SFMM came across as similarly confident during WCB 09. If you believe you can accomplish something, regardless of the circumstances or challenges that you face, then chances are far better that you will succeed. Attitude isn't everything, but it's pretty damn close.
CHILLERLC1 Posted March 31, 2009 Posted March 31, 2009 Keep me level that it's business as usual. I'll come in with my season pass still. I might buy a souvenir trinket, not enough to save the place and certainly not a Bizarro shirt but I'll continue with my word of mouth about the place to the GP. I just want to have as normal of a year as possible. I know things are going to settle one way or another in the offseason or near the end of the season-Aug-Fright Fest.
AllenA07 Posted March 31, 2009 Posted March 31, 2009 I both like and dislike how confident Shapiro is. I like the fact that he is confident and not cocky that things are going for the better and will stay that way. I don't like that he is so confident that the company will not have to declare bankruptcy. And even if they don't declare either this year, or next year, I feel like it would just be pushing off the inevitable. I think he did exactly what he had to do given the situation. He was talking to the press. If he had made the slightest acknowledgment of the possibility of bankruptcy, the headline would have been: CEO THINKS SIX FLAGS MIGHT DECLARE BANKRUPTCY Couldn't have said it better myself. As CEO one of Shapiro's main jobs is to be the companies main cheerleader. If one of the parks is engulfed in flames, it is his job to tell the media that this gives him an ample opportunity to fix up the park.
KDCOASTERFAN Posted March 31, 2009 Posted March 31, 2009 One word. Bailout. Three words.Not Gonna Happen.
firstbase11897 Posted March 31, 2009 Posted March 31, 2009 That's really a shame for Six Flags. Actually posting a profit, and still having to deal with this. After all the company has gone through over the years, this seems rather cruel.
Yamez Posted March 31, 2009 Posted March 31, 2009 The company has potential to do well, and coming off confident is the right thing to do. However, there are some parks in the chain that are really dragging them down. If you read the section below the reporter actually makes a comment that is very true in my area (Washington, DC): given the choice between Six Flags America or Kings Dominion - most choose Kings Dominion. From what I understand SFKK is in a similar situation, although there isn't any direct competition. I like Shapiro, I sincerely hope he manages to get the company through this and actually make Six Flags somewhere I'd like to visit.
ghost007jas Posted March 31, 2009 Posted March 31, 2009 One word. Bailout. Three words.Not Gonna Happen. Two words. Was Kidding. :] It's good to see that Shapiro is confident in the company, misplaced or otherwise. He's done a great job with this chain, regardless of the mess it was in beforehand... I have faith in him to steer this company back on course.
ChrisZer0 Posted March 31, 2009 Posted March 31, 2009 I have a feeling SF will be alright, seeing that this summer people are going to be staying closer to home due to the economy. I always get a season pass for SFoT and im there at least twice a month. Im also in agreement on the dead weight parks, cut them already.
rcroques Posted April 1, 2009 Posted April 1, 2009 As much as his segment seemed to be advertisement and half-hearted ghost writing, I like Mark Shapiro. I really hope that Six Flags makes it... they've gotten a lot done and I want to see them finally make Six Flags the shining company it could be. Sincerely, R.C.
dj snow Posted April 1, 2009 Posted April 1, 2009 From what I understand SFKK is in a similar situation, although there isn't any direct competition. Not arguing any of your points, but I do think SFKK has plenty of direct competition. Holiday World is a bit more than an hour away, and Kings Island is probably about two. Both of these parks have higher annual attendance than SFKK. There is also Beech Bend Park, although it's not quite as large a park as those other two.
bhslhs Posted April 1, 2009 Posted April 1, 2009 Did I hear it wrong or did they say that they have 1 month to pay of 300 million dollars that they don't have!
DBru Posted April 1, 2009 Posted April 1, 2009 ^Yes, but I believe the chain just got a $300 million or so loan approved, so that should help...for the time being, anyway.
WildStangAlex Posted April 1, 2009 Posted April 1, 2009 On a per-park basis, some of Six Flags parks are really well managed, have a great collection of rides, and have high attendance. Other parks are slow at operations, have only cloned rides and don't attract very many people. Perhaps Six Flags needs to consider selling some of their slower parks. Although, in this market, it seems that that would be a terrible option. Overall though, I know they'll find a way of continuing to provide us with fun for years to come!
netdvn Posted April 1, 2009 Posted April 1, 2009 ^ Now is a pretty bad time to sell, considering almost all major regional park chains are considering selling off their parks.
bhslhs Posted April 2, 2009 Posted April 2, 2009 I think they'll file for chapter 11 and then they will get a little protection. This will give them a chance to re-organize. After that I think we will start to see some parks closing. The park that will probably go first is Six Flags America. The park that's probably in the best shape is Magic Mountain because they're expanding right now which is a clear sign that that park is ok.
ChrisZer0 Posted April 2, 2009 Posted April 2, 2009 If they did file a Ch. 11, you'll see the smaller parks (SF:A, Kentucky Kingdom,ect..) be sold or shut their gates completely. Anything Pre-premiere parks will most likely be kept.
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